People Moves

Oldest Swiss Private Bank Elects 10 New Partners

Paul Adams Geneva 21 June 2007

Oldest Swiss Private Bank Elects 10 New Partners

St Gallen-based Wegelin & Co Private Bankers has elected three new unlimited liability managing partners and for the first time has also elected seven partners with limited liability from within its ranks. According to the bank, this move reflects the successful growth of Wegelin in the past few years and acknowledges the new partners’ contribution toward this result. From 1 July 2007, Christian Hafner (head of the Zurich branch), Dr Adrian Künzi (head of the Geneva and Lausanne branches) and Dr Christian Raubach (head of Institutional Clients) will assume responsibilities as managing partners with unlimited liability. Complementing these appointments are the election to partner with limited liability of: Rolf Kaufmann (Zurich branch), Werner Krüsi (head of Client Advisors St Gallen), Daniel Leveau, (head of Quantitative Strategies), Patrik Rüthemann, (head of Structured Products), Martin Schenk (head of the Berne branch), Christoph Schwalm (head of IT) and Oliver Widmer (head of Trading). The bank says that it has seen an average annual growth rate in excess of 25 per cent, above the industry average. Dr Konrad Hummler, managing partner, said: "Our aim is to strengthen the bank by implementing an open and flexible management structure. We intend to systematically follow this path to ensure that our clients and business partners continue to have direct access to our entrepreneurial bankers." Founded in 1741, Wegelin & Co claims to be Switzerland's oldest bank. Three hundred employees work at eight locations throughout Switzerland and manage assets totaling over SFr20 billion.

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